00:00Many view debt or loan as a negative thing, but the Central Bank, which has seen an increase
00:05in bank lending, sees it as an indicator of continued growth of business in the country.
00:10Thus, the sectors that saw an increase in lending activity were also the ones who contributed
00:15significantly to business expansion, which in turn leads to more job opportunities for
00:20Filipinos.
00:21Noel Talacay reveals and makes sense of the numbers in this report.
00:27Loans from banks in the country continue to increase.
00:30Latest data from the Banco Central ng Pilipinas showed loans from universal and commercial
00:35banks went up by 11.1% in November 2024 compared to the same period in 2023.
00:43One of the main reasons for the hike in loans is the continued expansion of businesses.
00:48The sectors that saw an increase in lending include retail trade, energy, and financial
00:54services resulting in more jobs and opportunities for Filipinos.
00:59The Central Bank disclosed bank lending hike has a positive impact on the economy.
01:05However, this could also lead to an increase in the prices of goods.
01:10To address this, the country's inflation rate and financial stability will be monitored.
01:16The BSP will continue to implement measures to ensure lending remains balanced and does
01:22not pose a risk to economic growth.
01:25Noel Talacay from the National TV Network for New and Better Philippines.
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